Tata Power is set to formally acquire the project special purpose vehicle for development of an intrastate power transmission scheme in Uttar Pradesh, for which the Tata Group entity had emerged winning bidder under the tariff-based competitive bidding (TBCB) mechanism.
In a stock exchange communication, Tata Power said that bid process coordinator REC Power Development & Consultancy Ltd (RECPDCL) has issued the letter of intent to Tata Power for the formal acquisition of project SPV “Jalpura Khurja Power Transmission Ltd” that would be developing an intrastate transmission system (InSTS) scheme in Uttar Pradesh.
The project is officially termed as “Construction of 400/220kV, 2×500 MVA GIS substation Metro Depot (Greater Noida) with associated lines and 400/220kV, 2×500 MVA GIS substation Jalpura with associated lines” and will be developed under the build, own, operate & transfer (BOOT) mode with a concession period of 35 years.
The project is estimated to cost Rs.838 crore and has an implementation period of 18 months from the date of actual transfer of project SPV by RECPDCL to Tata Power. According to reliable industry sources, the formal transfer of SPV by the bid process coordinator should take place within ten days of the issuance of letter of intent.
According to information available with T&D India, Tata Power was competing for this project alongside two other bidders – Power Grid Corporation of India Ltd (PGCIL) and Megha Engineering & Infrastructures Ltd.
As reported by T&D India on November 29, 2023, Tata Power was placed L1 in two projects – one interstate and one intrastate – under the TBCB mode.
While the intrastate scheme is Jalpura Khurja Power Transmission Ltd (discussed in this story), the interstate scheme is housed under “Bikaner III Neemrana II Transmission Ltd.” Tata Power has already received the letter of intent for the interstate scheme from bid process coordinator PFC Consulting Ltd.
These two projects mark the entry of Tata Power in the greenfield power transmission development space. The total power transmission portfolio of Tata Power, factoring Jalpura Khurja and Bikaner III Neemrana II, now stands at 5,861 ckm, out of which around 4,600 ckm is operational.
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Featured photograph showing the innovative “tower in tower” design developed by Tata Power for its 110kV network in Mumbai is for representation only.
